Vanguard Group Inc. Boosts Stock Position in Burke & Herbert Financial Services Corp. $BHRB

Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 779,800 shares of the company’s stock after purchasing an additional 14,358 shares during the quarter. Vanguard Group Inc. owned approximately 0.05% of Burke & Herbert Financial Services worth $48,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP grew its position in shares of Burke & Herbert Financial Services by 8.1% in the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after purchasing an additional 292 shares during the period. Rhumbline Advisers grew its position in shares of Burke & Herbert Financial Services by 1.7% in the second quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock valued at $1,073,000 after purchasing an additional 298 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after acquiring an additional 319 shares during the period. EJF Capital LLC lifted its holdings in shares of Burke & Herbert Financial Services by 0.9% during the 3rd quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock worth $3,075,000 after acquiring an additional 448 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Burke & Herbert Financial Services by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 13,389 shares of the company’s stock worth $798,000 after acquiring an additional 538 shares during the period.

Burke & Herbert Financial Services Stock Down 1.4%

NASDAQ BHRB opened at $61.47 on Friday. The stock has a market cap of $1.24 billion, a PE ratio of 7.97 and a beta of 0.74. Burke & Herbert Financial Services Corp. has a fifty-two week low of $54.45 and a fifty-two week high of $70.90. The business has a 50 day moving average price of $63.22 and a two-hundred day moving average price of $64.20. The company has a quick ratio of 0.81, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. As a group, sell-side analysts predict that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.20 annualized dividend and a yield of 3.6%. Burke & Herbert Financial Services’s payout ratio is 28.53%.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $63.05 per share, with a total value of $315,250.00. Following the completion of the acquisition, the director owned 208,939 shares of the company’s stock, valued at approximately $13,173,603.95. This trade represents a 2.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jose David Riojas purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $62.00 per share, with a total value of $62,000.00. Following the acquisition, the director directly owned 20,000 shares of the company’s stock, valued at $1,240,000. The trade was a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 7,300 shares of company stock valued at $460,650 in the last quarter. Company insiders own 10.92% of the company’s stock.

Analysts Set New Price Targets

BHRB has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th. Zacks Research lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. DA Davidson reissued a “neutral” rating and set a $70.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Citigroup cut shares of Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Finally, Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.40.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.